Coach on Tuesday posted second quarter results that bested year ago results and Wall Street’s expectations.
For the three months ended Dec. 30, income jumped 30.6 percent to $227.5 million, or 61 cents a diluted share, from $174.2 million, or 45 cents, a year ago. Wall Street was expecting 58 cents a share. Sales rose by 28.6 percent to $836.4 million from $650.3 million.
“Our extraordinary second quarter performance demonstrates that Coach has attained a new level of popularity in North America, reflecting the strength of our product and franchise, our position as a gift authority and the rapid expansion of the handbag and accessory category,” said Lew Frankfort, chairman and chief executive officer, in a statement.
For complete coverage see tomorrow’s issue of WWD.